Civic Intelligence

Roots Fund Incorporated

990 • Fiscal year 2022 • EIN 85-2112719

Jan 01, 2022 to Dec 31, 2022 • Filed on Jul 01, 2024

Organization Profilewww.therootsfund.org
1127 High Ridge RdStamford, CT 06905

(703) 489-1194

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

80th percentile

0.40x

Higher debt load relative to assets than 80% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

43rd percentile

0.05x

Higher debt load relative to revenue than 43% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

27th percentile

-4.5%

Higher net margin than 27% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

72nd percentile

$107,643

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 10.5% of source-year revenue.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

9th percentile

-18%

Faster asset growth than 9% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

93rd percentile

145%

Faster revenue growth than 93% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets80th percentile

Assets

Down

$135,421

Down $29,783 (-18%) from 2021

Net Assets

Down

$81,161

Down $46,413 (-36%) from 2021

Liabilities

Up

$54,260

Up $16,630 (+44%) from 2021

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin27th percentile

Revenue

Up

$1,020,514

Up $603,773 (+145%) from 2021

Expenses

Up

$1,065,962

Up $572,199 (+116%) from 2021

Net Income

Up

-$45,448

Up $31,574 (+41%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth9th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$300K$200K$100K$0-$100KAssets 2020: $204,689Liabilities 2020: $93Net Assets 2020: $204,5962020Assets 2021: $165,204Liabilities 2021: $37,630Net Assets 2021: $127,5742021Assets 2022: $135,421Liabilities 2022: $54,260Net Assets 2022: $81,1612022Assets 2023: $125,365Liabilities 2023: $113,953Net Assets 2023: $11,4122023Assets 2024: $6,471Liabilities 2024: $29,029Net Assets 2024: -$22,5582024

Highlighted filing

2022

Assets$135,421
Liabilities$54,260
Net Assets$81,161
Open 2022 Filing

Operations Trend

Revenue Growth93rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2020: $274,299Expenses 2020: $69,703Net Income 2020: $204,5962020Revenue 2021: $416,741Expenses 2021: $493,763Net Income 2021: -$77,0222021Revenue 2022: $1,020,514Expenses 2022: $1,065,962Net Income 2022: -$45,4482022Revenue 2023: $872,267Expenses 2023: $942,692Net Income 2023: -$70,4252023Revenue 2024: $302,899Expenses 2024: $341,699Net Income 2024: -$38,8002024

Highlighted filing

2022

Revenue$1,020,514
Expenses$1,065,962
Net Income-$45,448
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Jul 1, 2024
Return Version
2022v5.0
Gross Receipts
$1,020,514
Mission and Program Overview

Mission

The roots fund was created to empower the bipoc community in the wine industry by providing resources and financial support through educational scholarships, wine education, mentorship, and job placement. The roots fund is committed to investing in the black, indigenous & latinx wine community to provide opportunities to those seeking a career/education in all aspects of wine.

The roots fund was created to empower the bipoc community in the wine industry byproviding resources and financial support through educational scholarships, wineeducation, mentorship, and job placement. The roots fund is committed to investing inthe black, indigenous & lat3

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable-$104,973-
Cash and Non-Interest-Bearing Accounts$161,930$27,140▼ $134,790
Land, Buildings, and Equipment, Net$898$933▲ $35
Total Assets$165,203$135,421▼ $29,782
Other Assets Total$2,375$2,375→ $0
Liabilities
Other Liabilities$9,016$54,260▲ $45,244
Accounts Payable and Accrued Expenses$28,614--
Total Liabilities$37,630$54,260▲ $16,630
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$127,573$81,161▼ $46,412
Total Net Assets Fund Balance$127,573$81,161▼ $46,412
Total Liabilities and Net Assets / Fund Balance$165,203$135,421▼ $29,782

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$933$1,404$2,337
Other Assets Org$2,375--
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleBaseTotal
Ikimi WoodsonExecutive Director$107,643$107,643
Revenue and Support

Revenue Composition

Contributions and Grants
$1,020,514
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$632,524
Change in Net Assets
$-45,448
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$755,460
Salaries, Compensation, and Employee Benefits$282,867
Total Fundraising Expense$49,404
Grants and Similar Amounts Paid$27,635
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$17,129$137,704-$154,833
Current Officers, Directors, Trustees, and Key Employees$11,841$85,335$10,467$107,643
Travel-$30,290$19,192$49,482
Fees for Services Other$43,507--$43,507
Advertising$243$19,267$14,537$34,047
Fees for Services Legal$43$30,836$20$30,899
Grants to Domestic Individuals$27,635--$27,635
Payroll Taxes$2,596$17,048$747$20,391
Insurance-$15,298-$15,298
Office Expenses$351$12,155$13$12,519
Fees for Services Accounting-$8,424-$8,424
Other Expenses$303$5,251$434$5,988
All Other Expenses--$837$837
Depreciation Depletion-$702-$702
Information Technology-$431-$431
Total Functional Expenses$652,166$364,392$49,404$1,065,962
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Wine Auction$387,990$387,990$3,157$384,833
Total Events$387,990$387,990$3,157$384,833
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Cards$36,112
Other Current Liabilities$18,148
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

“1. Executive Director prepares financial statements. 2. The 990 is prepared usingfinancial statement information. 3. The 990 is compared and reviewed againstfinancial statement data 4. The executive director approves 990 before sharing thedraft with the board. Board reviews and approves final 990 before filing.”

Governing documents etc available to public Part VI line 19

“No other documents available to the public.”

Filing and Contact Details

Filer

Filer Name
The Roots Fund Incorporated
EIN
85-2112719
Address
1127 High Ridge Rd, Stamford, CT 06905

Signing Officer

Name
Ikimi Woodson
Title
Excutive Direct
Phone
7034891194
Signed
2024-07-01
Discuss with paid preparer
No

Organization Details

Formed
2019
Legal Domicile
Ct
Voting Board Members
3
Independent Board Members
3
Employees
0

Preparer

Firm
RM Martin PLLC
Address
800 Maine Ave SW Ste 200, Washington, DC 20024
Preparer
Regina Martin
Phone
2025798672
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IRS990/ActivityOrMissionDesc0THE ROOTS FUND WAS CREATED TO EMPOWER THE BIPOC COMMUNITY IN THE WINE INDUSTRY BYPROVIDING RESOURCES AND FINANCIAL SUPPORT THROUGH EDUCATIONAL SCHOLARSHIPS, WINEEDUCATION, MENTORSHIP, AND JOB PLACEMENT. THE ROOTS FUND IS COMMITTED TO INVESTING INTHE BLACK, INDIGENOUS & LAT3
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IRS990/Desc04a. Educational Scholarships $206,455.47 (minus enrichment trips)Roots Fund had a monumental year. Our scholarships increased by 50%, with offering into the Court Masters Sommelier, Wine Scholars Guild, and offering college tuition to UC Davis, Cornell, and FIngerlakes Community College. We executed a variety of tutoring programs in English and Spanish for High School and professional adults. This work landed recognition in the NY Times for our contributions to education in wine for people of color.
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IRS990/MissionDesc0THE ROOTS FUND WAS CREATED TO EMPOWER THE BIPOC COMMUNITY IN THE WINE INDUSTRY BYPROVIDING RESOURCES AND FINANCIAL SUPPORT THROUGH EDUCATIONAL SCHOLARSHIPS, WINEEDUCATION, MENTORSHIP, AND JOB PLACEMENT. THE ROOTS FUND IS COMMITTED TO INVESTING INTHE BLACK, INDIGENOUS & LAT3
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IRS990/ProgSrvcAccomActy2Grp/Desc04b. Career Development 80% of the scholars in our program were placed in careers in wine. Not just jobs, that would require multiple streams of income to survive but lucrative careers. Building extensive career pathways with levels of mentorship and networking has brought guaranteed success. People of color needed the opportunity, education, and support. Our organization has managed to provide all those things for our scholars. 40% of our scholars landed in early management roles that will lead to promotions within 18 months of employment.
IRS990/ProgSrvcAccomActy3Grp/Desc04c. Enrichment Trips $43,000 (pulled from scholarship number)To be successful in certifications and knowledge you must travel the wine world. Scholars traveled to Burgundy, Champagne, New Zealand, SOuth Africa, Napa, and Fingerlakes. Scholars lived in the regions, studied the culture, ate the food, and drank wines with the best producers in the world. These experiences may have been the first travel excursion for many scholars, but we hope it isnt the last. These enrichment trips bring the book studies to. life.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt01. Executive Director prepares financial statements. 2. The 990 is prepared usingfinancial statement information. 3. The 990 is compared and reviewed againstfinancial statement data 4. The executive director approves 990 before sharing thedraft with the board. Board reviews and approves final 990 before filing.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No other documents available to the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Governing documents etc available to public Part VI line 19
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IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0www.therootsfund.org
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0false
ReturnHeader/BusinessOfficerGrp/PersonNm0Ikimi Woodson
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Excutive Direct
ReturnHeader/BusinessOfficerGrp/PhoneNum07034891194
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-01
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Roots Fund Incorporated
ReturnHeader/Filer/BusinessNameControlTxt0ROOT
ReturnHeader/Filer/EIN0852112719
ReturnHeader/Filer/USAddress/AddressLine1Txt01127 High Ridge Rd
ReturnHeader/Filer/USAddress/CityNm0Stamford
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CT
ReturnHeader/Filer/USAddress/ZIPCd006905
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0881892972
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RM Martin PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0800 Maine Ave SW Ste 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Washington
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020024
ReturnHeader/PreparerPersonGrp/PhoneNum02025798672
ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-01
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Regina Martin
ReturnHeader/ReturnTs02024-07-01T09:02:01-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Ikimi
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Woodson
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$135,421
Liabilities
$54,260
Net assets
$81,161
Revenue
$1,020,514
Expenses
$1,065,962
Net income
-$45,448
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.01$0.03$0.02$0.30$0.34$0.04
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.13$0.11$0.01$0.87$0.94$0.07
2022Detailed filing. Detailed filing data is available for this year.$0.14$0.05$0.08$1.02$1.07$0.05
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.17$0.04$0.13$0.42$0.49$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.20$0.00$0.20$0.27$0.07$0.20